Full Year Statutory Accounts
Full Year Statutory Accounts
Perth, Sep 20, 2019 AEST (ABN Newswire) - The principal activities of Altech Chemicals Ltd (ASX:ATC) during the financial year were, the commencement of construction of its Malaysian high purity alumina (HPA) plant, the continuation of efforts to finalise total project financing for the HPA plant and associated kaolin (aluminous clay) mine at Meckering, Western Australia, and continued research and development activities in support of the commercialisation of the Group's Meckering kaolin deposit.

Aside from the commencement of HPA plant construction, project financing, research and development and commercialisation activities, there have been no other significant changes in the Group's activities during the financial year.

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About Altech Chemicals Ltd

Altech Chemical Ltd ASX:ATCAltech Chemicals Limited (ASX:ATC) (FRA:A3Y) is aiming to become one of the world's leading suppliers of 99.99% (4N) high purity alumina (HPA) (Al2O3).

HPA is a high-value, high margin and highly demanded product as it is the critical ingredient required for the production of synthetic sapphire. Synthetic sapphire is used in the manufacture of substrates for LED lights, semiconductor wafers used in the electronics industry, and scratch-resistant sapphire glass used for wristwatch faces, optical windows and smartphone components. There is no substitute for HPA in the manufacture of synthetic sapphire.

Global HPA demand is approximately 25,315tpa (2016) and demand is growing at a compound annual growth rate (CAGR) of 16.7% (2016-2024), primarily driven by the growth in worldwide adoption of LEDs. As an energy efficient, longer lasting and lower operating cost form of lighting, LED lighting is replacing the traditional incandescent bulbs.

    


Contact

Corporate
Iggy Tan
Managing Director
Altech Chemicals Limited
Tel: +61-8-6168-1555
Email: info@altechchemicals.com

Shane Volk
Company Secretary
Altech Chemicals Limited
Tel: +61-8-6168-1555
Email: info@altechchemicals.com

Investor Relations (Europe)
Kai Hoffmann
Soar Financial Partners
Tel: +49-69-175-548320
Email: hoffmann@soarfinancial.com



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